BILL · 2009–10 SESSION · LATEST VERSION E2SSB 6609
SB 6609: Local govt infrastructure
Concerning infrastructure financing for local governments.
Summary
Increases the total "state contribution" for the Local Revitalization Financing (LRF) program by $1.95 million and dedicates the increase to six named demonstration projects.
Ties Department of Revenue approval of the six LRF demonstration projects to completion of an economic analysis by the University of Washington, including a probability assessment related to estimates of job creation and revenue increases.
Authorizes a taxing district to participate in the LRF program on a partial basis and a sponsoring local government to issue revenue bonds under certain conditions.
Authorizes an increment and revitalization area to overlap when certain conditions and constraints are met.
Revises the requirements that must be met before a sponsoring jurisdiction can impose a local sales and use tax under the Local Infrastructure Financing Tool program.
From the Engrossed Second Substitute House Bill Report (E2SSB 6609), written by the Legislature's nonpartisan staff. Read the full report ↗